TLDR
- Senate lawmakers reached a reported deal on stablecoin yield rules before the expected May committee review.
- Passive rewards for holding stablecoins may be banned when they resemble bank deposit interest payments.
- Activity-based rewards tied to payments, trading, or platform use may still remain allowed under the deal.
- Ash Crypto and Bull Theory reported the agreement as a key step for the Clarity Act.
- Prediction markets now place the bill’s 2026 passage odds at 62%, according to both analysts.
The U.S. Senate crypto bill has moved forward after lawmakers reportedly settled a dispute over stablecoin yield. The deal targets passive rewards that resemble bank interest, while allowing rewards linked to real platform activity.
Senate Deal Moves Crypto Bill Forward
U.S. senators have reportedly finalized text on stablecoin yield rules. The agreement may help advance the Digital Asset Market Clarity Act. The bill has become a major focus for the U.S. crypto industry.
Crypto analyst Ash Crypto said the text bans rewards that act like bank interest. He also said rewards tied to platform usage and payments remain allowed. His comments framed the deal as a key step for the bill.
Bull Theory said the Senate had unblocked the crypto market structure bill. The account said the yield dispute had slowed progress for months. It also linked the deal to talks involving Senator Thom Tillis and Senator Angela Alsobrooks.
The Senate Banking Committee markup is expected in May, according to the reports. Ash Crypto said the review could come by the second week of May. Bull Theory also said the committee process may resume during the month.
Stablecoin Yield Ban Targets Passive Rewards
The reported text would limit rewards paid only for holding stablecoins. These rewards could be banned when they look like bank deposit interest. That would affect offers based only on passive stablecoin balances.
Bull Theory cited language covering rewards “economically or functionally equivalent” to bank interest. The phrase points to concerns about crypto firms offering savings-like products. Banks have argued that such offers could pull deposits away from bank accounts.
For example, a crypto platform could face limits on fixed yield for holding stablecoins. A reward offered only for keeping a dollar-pegged token may not qualify. The rule would focus on the nature of the payment.
However, the deal does not appear to block all customer rewards. Rewards tied to trading, payments, staking, or service use may still be allowed. Ash Crypto said platform usage and payment-based rewards remain within the text.
Market Structure Bill Heads Toward May Review
The deal may remove a key barrier for the Clarity Act. Crypto firms have long asked for clearer federal rules. The bill aims to create a wider framework for digital asset markets.
Prediction markets now place the bill’s 2026 passage odds at 62%, according to the analysts. Ash Crypto said the odds had risen after the yield text. Bull Theory also cited the same level in its report.
Bull Theory said Treasury Secretary Scott Bessent has described spring 2026 as a target. That claim was shared in the social media report. It adds to market attention around the bill’s timeline.
The reported compromise gives banks and crypto firms different outcomes. Banks gain limits on passive stablecoin yield, while crypto firms gain movement on market rules. The next test will be the Senate Banking Committee markup in May.
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